Hello - I considering taking an early withdrawal distribution of $50,000 out of my existing roth 401k under the CARES distribution and trying to understand what my exposure will be. To my understanding, assuming I am a qualified individual, my tax and fee exposure here will be $0? Since it is a roth 401k... this will not count as additional income since I have already paid the taxes within the investment vehicle (hence $0 tax exposure)? and since this will be a CARES distribution, the 10% early withdrawal penalty is waived (hence why $0 fee exposure)?
Is this train of thought correct or am I missing something?
On a side note, does anyone know what documentation the IRS will ask me provide to prove I am qualified to withdraw under the CARES act?
Thank you!
